cat /proc/sys/fs/inotify/max_user_watches
8192
You can bump the number up, for example, doubling this to 16384, using:
echo 16384 | sudo tee /proc/sys/fs/inotify/max_user_watches
bear in mind that inotify watches do consume memory, I think it's around 160 bytes per watch on 64 bit systems.
To set this permanently, add an entry to /etc/sysctl.conf, for example:
echo fs.inotify.max_user_watches=16384 | sudo tee -a /etc/sysctl.conf
sudo sysctl -p
..or manually edit /etc/sysctl.conf
(you need root privileges to update it) and then run sudo sysctl -p